Administrator cuts 330 jobs at Comet
All 236 stores continue to trade as normal
By CFOWorld.co.uk staff | CFO UK | Published 11:49, 12 November 12
Deloitte, the administrator of Comet announced 330 staff redundancies at the beleaguered electronics retailer on Monday.
Giving details, joint administrators Neville Kahn, Nick Edwards and Chris Farrington, of Deloitte said, 99 job cuts are to be made at Comet’s head office and support centres in Rickmansworth, with another 53 in Hull and 42 at a call centre in Clevedon.
Employees who have been made redundant will be receiving full wages earned during the administration. Deloitte will also provide assistance in claiming payments from the government's Redundancy Payments Office.
In the interim there have been no redundancies at Comet distribution centres or 236 retail outlets, which continue to trade as normal. Deloitte has clarified that no further redundancies are planned and staff will continue to be paid.
Neville Kahn of Deloitte said, "We remain extremely grateful to the staff and management for their continued loyalty and support at what is clearly a very difficult time. We are in discussions with a number of parties who have expressed interest in parts of the business and we continue to work hard to preserve jobs," he added.
"An in-store sale across all stores commenced yesterday and will continue through the coming weeks. We are pleased with the response so far, as the discounts have helped generate record levels of sales," Kahn said.
Comet was forced into administration earlier this month after private equity firm OpCapita failed to turnaround mounting losses at the retailer.
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